Servisair Group Limited Key Developments

Servisair Reports Earnings Results for the First Half Ended March 31, 2013

May 23 13

Servisair reported earnings results for the first half ended March 31, 2013. For the period, the company reported revenue of €357.0 million against €323.7 million a year ago. Recurring EBITDA was €37.8 million against €21.3 million a year ago. Recurring operating profit was €26.0 million against €9.9 million a year ago. Operating profit was €24.0 million against €8.5 million a year ago. Servisair's revenue increased by 10.3% compared with the same period last year. The main effects contributing to this growth were: The consolidation of revenue derived from the acquisition of Handlex in June 2012; Above-average aircraft de-icing activity, which is dependent on weather conditions and was significantly below average last year; Growth in Cargo-related services stemming from the gain or ramp-up of new contracts. Recurring EBITDA amounted to €37.8 million, or 10.6% of revenue, giving Servisair the ratio of recurring EBITDA to revenue in the entire company. Compare with the previous year, the increase was 77%.

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